Pension tax breaks in Leeds

HUNDREDS of millions of euro are expected to be invested in British property by individual Irish investors availing of pension tax breaks in the coming months.

The first product to exploit budget changes to allow pension schemes borrow for investment has been launched by the Prestige Group to invest in apartments in the centre of Leeds.

The geared property pension fund provides investors with a significant tax shelter and is targeted at executives, company directors self-employed and senior executives with additional voluntary contribution schemes (AVCs).